Recently, I had the pleasure of attending an inspiring event hosted by Eleven Ventures.” The evening was a celebration of the entrepreneurial ecosystem that Eleven has built over the past eleven years, and it provided a fascinating look at both the successes and challenges that have shaped the community.
One of the highlights for me was hearing from Mihail Stoychev, an entrepreneur with two successful exits—NitroPack and SMSBump. His approach to entrepreneurship was both insightful and grounded in practical experience. He shared that maintaining a small, tightly-knit team is crucial, advising against overhiring. His mantra? “Work hard—it always pays off.” I found this advice incredibly valuable, especially in the context of scaling businesses sustainably.
Mihail also emphasized the importance of leveraging platforms that already work. By integrating with established platforms, you can tap into a broader audience immediately, which accelerates growth and exposure.
For those unfamiliar, NitroPack optimizes website performance, offering tools that help websites load faster and improve their SEO rankings. SMSBump, on the other hand, is a powerful SMS marketing automation tool that allows businesses to engage with customers through text messaging, making it easier to drive sales and enhance customer relationships.
Hearing these insights was particularly meaningful against the backdrop of the event’s broader theme. The evening also cast an eye towards the future, exploring how founders and investors can shape the next chapter for Eleven and the ecosystem. It resonated with me, as it aligns with the ethos at Starttech Ventures—to not only learn from the moments that shape us but to also plan strategically for what comes next.
At Starttech Ventures, our investment thesis aligns closely with this approach, particularly in our focus on the CEE/SEE and East Mediterranean regions. We believe that these areas offer untapped potential for entrepreneurs and investors alike, as outlined in our blog on Investing in the East Mediterranean [https://lnkd.in/dvjuJe8X]. We are constantly looking to foster innovation and support startups that aim to make a significant impact in these burgeoning ecosystems.
Overall, the event was a great opportunity to learn, reflect, and connect with the wider entrepreneurial community. It left me with actionable insights that I look forward to implementing.
